The January futures contract of the Nifty 50 on the Singapore Exchange is pointing to a negative start for domestic equities on Tuesday. The contract was trading at 18,156.50, down 16.5 points or 0.09% from the previous close.
TCS: The IT major reported a strong Q3 performance. The net profit rose 11 per cent YoY to Rs 10,846 crore, while revenue for the quarter came in at Rs 58,229 crore, up 19.1 per cent YoY in reported terms and 13.5 per cent YoY in constant currency terms.
IDBI Bank: According to Department of Investment and Public Asset Management (DIPAM) Secretary Tuhin Kanta Pandey, the government will soon notify the exemption period for meeting the public-shareholding norm for the prospective owner of IDBI Bank.
The government has so far received interests from both global and domestic investors to acquire a majority stake in IDBI Bank. It expects to close the deal by September-October. Following which, the government would make a complete exit from the Bank as and when it gets the “upside value” on the remaining stake.
Paytm: The digital payments company saw a 330 per cent YoY growth in loan disbursals in December 2022. It disbursed 3.7 million loans worth Rs 3,665 crore in December.
Real-estate: Quarterly sales updates by realty companies indicate that demand trends for both residential and commercial segments continue to remain strong. Macrotech Developers (Lodha) and Sobha registered their highest-ever quarterly bookings in the December quarter.
Tata Motors: The retail sales of automaker Jaguar Land Rover rose 5.9 per cent YoY in Q3FY23 reflecting a “gradual improvement in chip supplies”, the company said in a release to the BSE. The wholesale volume rose 15 per cent during the same period.
Insurance: After witnessing strong growth in November, life insurers reported moderation in new business premium (NBP) growth in December. From a 30 per cent uptick in November, NBP growth last month slowed down to 10 per cent as state-owned Life Insurance Corporation’s premium growth decelerated from a peak.
ONGC: The company’s overseas arm ONGC Videsh has re-taken a 20 per cent stake in the Sakhalin-1 oil and gas fields in the far east region of Russia.
PVR: The multiplex operator aims to operate 1,000 screens by the end of FY24, by adding 100 more screens in the next 15 months, the company’s Joint Managing Director Sanjeev Kumar Bijli said. On Monday, PVR announced opening of three new multiplexes in Jaipur, Bengaluru and Gurugram, adding 19 screens, thus taking the total screens count to 900.
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